The TOAH Fund offers a broad range of products with flexible uses for developers. The TOAH Fund makes loans to high-quality TOD projects that deliver the maximum number of affordable housing units and/or the highest level of neighborhood benefits. The TOAH Fund’s target borrowers will primarily be experienced nonprofit or for-profit developers, municipal agencies and joint ventures comprised of such entities, with track records of developing affordable rental housing, including supportive housing. For more information about borrowing from the Fund, visit the Eligibility page.



Predevelopment Loans

Loan proceeds may be used for a broad range of activities, including but not limited to: architecture, engineering, environmental studies, soils reports, surveys, market studies, appraisals, deposits or other site control expenses, escrow, title, and brokers fees, hazard insurance, liability insurance, property taxes, site security, financing fees, and debt service expenses.
Download Predevelopment Term Sheet

Acquisition Loans

Loan proceeds may be used for the acquisition of vacant land and/or real property and lot development expenses, including predevelopment expenses. The potentially longer term associated with these loans is intended to allow developers sufficient time to assemble multiple parcels of land into a single TOD project. The potentially higher loan-to-value will reduce the need for developers to line up multiple sources of financing, enabling them to make offers on available land quickly within a competitive timeframe.
Download Acquisition Term Sheet

Construction Bridge Loans

Loan proceeds may be used to bridge construction funding to either larger or longer-term financing. The loan purpose may be new construction or rehabilitation. It is anticipated that most construction bridge financing will be provided to borrowers that have permanent public funding sources identified and committed but are waiting for funding to occur. This product will help bridge the gap in the intervening time period.
Download Construction Bridge Term Sheet

Construction-to- Mini-Permanent Loans

Loan proceeds may be used for construction financing (new or rehabilitation) followed by a mini-permanent takeout. This product will primarily be used for development of community facilities, child care centers, and neighborhood retail, including fresh foods markets.
Download Construction-to-Mini-Permanent Term Sheet

Leveraged Loans

Loan proceeds may be used to fund eligible predevelopment, acquisition, construction, and/or mini-permanent financing to leverage an investment into a New Market Tax Credit (NMTC) eligible transaction, which could be community facilities, neighborhood retail, fresh foods markets, child care centers, etc.
Download Leveraged Loan Term Sheet

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